Via Domainfax comes BIS Shrapnel
Apartment prices in Melbourne were likely to fall by up to 2 per cent and in Brisbane, by up to 3.5 per cent.
While Sydney unit prices could rise a small 1 to 2 per cent, many apartments in areas such as Parramatta, the Hills area, Botany Bay suburbs like Banksmeadow, Botany, Eastlakes and Mascot could be cheaper in 2017.
Prices in Hornsby, Cherrybrook, Pennant Hills and Berowra, Ryde and Canterbury could also fall.
In these inner to middle-ring suburbs, the number of apartments under construction are higher than their current share of apartment stock, BIS Shrapnel residential senior manager Angie Zigomanis said.
…”It won’t be that big, 5 to 10 per cent tops,” Mr Zigomanis said.
Seems about right. The last of the rate cuts next year may keep it aloft a little longer. But it is only the fat lady clearing her throat. The real downside comes with the next external shock as by then:
- we have no rate cuts left;
- little fiscal scope, and
- immigration will be cut.
Property remains a big, fat sell.
